KUALA LUMPUR (Feb 13): Metro Healthcare Bhd (KL:METRO) is acquiring a four-storey shop office in Subang Jaya for a cash consideration of RM9.5 million to expand its business.
The property is currently tenanted and operating as a private maternity hospital, with the proposed acquisition serving as another key asset in Metro’s expansion strategy, according to the fertility, obstetrics and gynaecology (OB-GYN) services provider statement on Thursday.
With this acquisition, Metro Healthcare said it is committed to enhancing access to high-quality OB-GYN services in Malaysia, particularly in high-demand urban locations.
Metro Healthcare also said it is actively strengthening its OB-GYN segment by acquiring strategic healthcare facilities to support long-term growth, with this proposed acquisition being the first move after Metro Healthcare’s listing switch to the ACE Market in November 2024.
Metro Healthcare made its debut on the LEAP Market in 2018 before transferring to the ACE Market.
Metro Healthcare executive chairman Tee Swi Peng said the proposed acquisition is a strategic move in line with its mission to provide accessible and high-quality women’s healthcare services.
“With Malaysia’s rising demand for fertility and maternity care, we see significant opportunities to further expand our network and enhance patient care. This property acquisition will strengthen our asset base and position Metro for future growth,” Tee added.
The office space measures a gross floor area of 12,176 square feet, with the acquisition to be conducted by Metro Healthcare subsidiary KW Tee Sdn Bhd.
The RM9.5 million acquisition fee is to be funded through internally generated funds and is expected to be finalised by the first quarter of this year.
Metro Healthcare’s share price closed up 0.5 sen or 2.22% to 23 sen — 8% below its initial public offering price of 25 sen — on Thursday. At 23 sen, the stock is valued at RM225 million.
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Source: EdgeProp.my
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